Ares Capital Corporation Company Profile (NASDAQ:ARCC)

Ares Capital Corporation trades on the NASDAQ under the ticker symbol "ARCC."

Ares Capital Corporation declared a quarterly dividend on Wednesday, August 2nd. Shareholders of record on Friday, September 15th will be paid a dividend of $0.38 per share on Friday, September 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.59%. The ex-dividend date of this dividend is Thursday, September 14th. View Ares Capital Corporation's Dividend History.

Ares Capital Corporation announced that its board has initiated a stock buyback program on Friday, April 7th 2017, which authorizes the company to repurchase $300,000,000.00 in shares, according to EventVestor. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Ares Capital Corporation (NASDAQ:ARCC) posted its quarterly earnings results on Wednesday, August, 2nd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by $0.02. The firm had revenue of $284 million for the quarter, compared to analysts' expectations of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter in the prior year, the firm posted $0.50 earnings per share. View Ares Capital Corporation's Earnings History.

Ares Capital Corporation is scheduled to release their next quarterly earnings announcement on Tuesday, October, 31st 2017. View Earnings Estimates for Ares Capital Corporation.

9 brokerages have issued 12 month price targets for Ares Capital Corporation's stock. Their predictions range from $15.00 to $19.50. On average, they anticipate Ares Capital Corporation's stock price to reach $17.79 in the next year. View Analyst Ratings for Ares Capital Corporation.

Here are some recent quotes from research analysts about Ares Capital Corporation stock:

• 1. National Securities analysts commented, "• Ares reported core NII of $0.34/share versus our estimate of $0.38/share, as ACAS assets with no yield or lower yields weighed on overall effective yield, NIM, and thus earnings. However, we note that this is a $0.02/share improvement Q/Q as the company makes progress in recycling assets and that prepayment fees, which many BDCs account for in investment income, are accounted for as realized gains at ARCC and were $0.02/share. We expect Ares to achieve full dividend coverage on a core NII basis in 4Q17.
  • In 3Q17 ARCC purchased the remaining $1.6 billion of loans from the SSLP (Senior Secured Loan Program) with GE Capital and the joint venture (JV) was ended. As a result, ARCC’s 30% basket is freed up significantly. As of 6/30/17, the SSLP was 16.5% of the portfolio at amortized cost and the SDLP (Senior Direct Lending Program) was a mere 3.4%. This provides Ares with much needed breathing room in the 30% basket and should permit the company to comfortably ramp its SDLP JV with Varagon. While it will take time to ramp the program, we think ARCC sees ample deal flow in the upper middle market (UMM) already which is what goes into the JV, making deal sourcing easier for the program. Additionally, Ares could potentially put some or all of the $1.6 billion in loans purchased from the SSLP into the SDLP although this would of course require the consent of Varagon.
  • We are revising our 2017 core NII/share estimate to $1.46 from $1.59 and our 2018 core NII/share estimate to $1.65 from $1.72.
  " (8/7/2017)
• 2. According to Zacks Investment Research, "ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. " (8/2/2017)
• 3. Jefferies Group LLC analysts commented, "ARCC reported core NOI per share of $0.42 ahead of our estimate, as another quarter of larger transactions/syndications drove elevated fee income. ARCC remains selective, acknowledging the ongoing competitive environment. We remain favorable on ARCC given numerous earnings tailwinds including rising rates, ACAS integration and the wind-down of the SSLP, which should ease yield headwinds. We maintain our Buy rating and increase our PT to $19.50." (2/23/2017)

Some companies that are related to Ares Capital Corporation include 3i Infrastructure PLC (3IN), Hercules Capital (HTGC), Ithaca Energy (IAE), Triangle Capital Corporation (TCAP), Foresight Solar Fund Ltd (FSFL), TICC Capital Corp. (TICC), KCAP Financial (KCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Alcentra Capital Corp. (ABDC), American Capital Senior Floating (ACSF), Andalas Energy and Power PLC (CEB), Apollo Investment Corporation (AINV), BlackRock Capital Investment Corporation (BKCC), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA), Blackrock Taxable Municipal Bond Trust (BBN) and Capitala Finance Corp. (CPTA).

Ares Capital Corporation's management team includes the folowing people:

• Michael J. Arougheti, Co-Chairman of the Board
• Bennett Rosenthal, Co-Chairman of the Board
• Mitchell Goldstein, Co-President
• Michael L. Smith, Co-President
• R. Kipp deVeer III, Chief Executive Officer, Director
• Penelope F. Roll, Chief Financial Officer
• Scott C. Lem, Chief Accounting Officer, Vice President, Treasurer
• Miriam G. Krieger, Chief Compliance Officer
• Joshua M. Bloomstein, Vice President, General Counsel, Secretary
• Michael R. McFerran, Vice President, Assistant Treasurer

Ares Capital Corporation's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Muzinich & Co. Inc. (0.00%), Vaughan Nelson Investment Management L.P. (0.00%), FMR LLC (0.00%), Principal Financial Group Inc. (0.00%), Ameriprise Financial Inc. (0.00%) and Confluence Investment Management LLC (0.00%). Company insiders that own Ares Capital Corporation stock include Michael J Arougheti, Mitchell S Goldstein, R Kipp Deveer, Scott C Lem and Steve Bartlett. View Institutional Ownership Trends for Ares Capital Corporation.

Ares Capital Corporation's stock was sold by a variety of institutional investors in the last quarter, including Janus Henderson Group PLC, FMR LLC, Vaughan Nelson Investment Management L.P., Muzinich & Co. Inc., Toronto Dominion Bank, Willingdon Wealth Management, Ares Management LLC and NGAM Advisors L.P.. View Insider Buying and Selling for Ares Capital Corporation.

Ares Capital Corporation's stock was acquired by a variety of institutional investors in the last quarter, including Principal Financial Group Inc., Elliott Management Corp, Arrowstreet Capital Limited Partnership, Koch Industries Inc., Neuberger Berman Group LLC, BNP Paribas Arbitrage SA, Van ECK Associates Corp and Alps Advisors Inc.. Company insiders that have bought Ares Capital Corporation stock in the last two years include Michael J Arougheti, Mitchell S Goldstein, R Kipp Deveer, Scott C Lem and Steve Bartlett. View Insider Buying and Selling for Ares Capital Corporation.

Shares of Ares Capital Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.

One share of Ares Capital Corporation stock can currently be purchased for approximately $15.85.